Under Phase-II of FAME India Scheme, around 7.45 lakh Electric Vehicles supported till 07 Dec 2022 by way of a Demand Incentive amounting to about US$ 386 Million (Rs. 3,200 Cr).
- Press Information Bureau
- December 14, 2022
Under Phase-II of Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles (FAME) India Scheme, around 7.45 lakh of Electric Vehicles (EVs) have been supported till December 7, 2022, by way of Demand Incentive amounting to US$ 386 Million (Rs. 3,200 Cr). Ministry of Heavy Industries (MHI) has also sanctioned 6,315 e-buses to 65 cities/ State governments for intra and inter-city operations across 26 states and UTs.
A notification was provided by the government regarding Phase II of FAME India Scheme, which started on April 1, 2019, for a period of five years, and total budgetary support of US$ 1.2 billion. This phase aims to support 7,090 e-Buses, 5 lakh e-3 Wheelers, 55,000 e-4 Wheeler Passenger Cars and 10 lakh e-2 Wheelers., through demand incentives, which are provided to buyers of EVs in the form of a reduction of the purchase price of EVs.
Various steps have been taken by the Government to address the challenges faced in the adoption of electric mobility in the country, which include the increment of demand incentive, approval of Production Linked Scheme (PLI), reduction of Goods and Services Tax, etc.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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